QuiCQ 05/04/2024
Small is Beautiful
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"Great things are done by a series of small things brought together."
-- Vincent van Gogh
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Small cap stocks globally have been struggling to make any meaningful advances over the past few years, but are showing some constructive signs of life recently. The top clip in today’s Chart-Of-The-Day below looks at US small caps via the S&P 600 small cap index, which clearly as started improving since interest topped out above 5% (10-years) last October. A move above resistance at 1,345 could accelerate the uptrend. However, putting the recent strength into relative perspective, i.e. comparing to the large-cap index S&P 500, reveals that relative strength has been abysmal. BUT, putting my usual “happy geezer” spin on to this, especially as it is Friday, the optimist in us would argue that the relative ratio (lower clip) is now at levels where it usual turned upwards. Small is the new large?
